Landing A Job Despite Having Bad Credit

January 18, 2018

Oh yes – a poor credit rating can affect your chances of securing a job. Just ask the one in ten people who told a Demos survey that’s why they didn’t get a job. And, if you think they are over exaggerating, another study found that nearly 50% of employers conducted a credit check.

Why on earth would they do that if an applicant’s rating had no bearing on the decision process? Still, the good news is that you can beat the system in spite of this unfair barrier to employment.

Here’s what you need to know.

It’s Never Too Late

Lots of unemployed people think that their rating is set in stone and that isn’t true. Just like any ranking, it’s possible to move up and down depending on your actions. The first point to understand is that a bad score can soon change into a good one with the right advice.

The next thing to consider is what they are and how you can incorporate them into your finances as soon as possible. At the moment, websites such as http://repair.credit are in fashion because they have excellent pointers. But, some accountants and bookkeepers can provide solid advice, too.

Know Your History

It’s a silly thing to point out, yet lots of people don’t know their credit rating. Regarding a job offer, this could be a make or break moment. For one thing, you may get bent out of shape over a credit score that is perfectly fine.

For another, you may not know there is a problem until it’s too late. Thankfully, you are allowed one free report per year, so visit AnnualCreditReport.com for more info. Once you have the data, you can figure out whether you need to make changes and rebuild or stay put.

And Your Rights

Although employers can pull financial records, they need to go through a rigorous process. Firstly, they need to inform you of the procedure beforehand, and then they need written consent. Please realize that you don’t have to accept the request, but they can use it as a means to reject your application.

However, section 525(b) of the US Bankruptcy Code prevents them from not hiring a candidate because they are bankrupt. Knowing what employers and employees can and can’t do will help you through the tricky process.

Depending on the country where you reside, the provisions of the law are similar. So do your research ahead of time.

Be Bullish

The term ‘bullish’ doesn’t mean you need to be stubborn and arrogant. Instead, it suggests that you should be proactive and get out in front of the situation. Say you know that your credit rating is going to be an issue – you can tell an employer up front.

By revealing the info beforehand, it is less an issue for employers in the future. Plus, you can also spin the situation to your advantage. For example, you may have had a problem with your credit card and identity theft. Or, your partner may have lost a job. Both of these situations make businesses sympathetic to your cause.

It is unfair, but all you can do is try and not let bad credit get in the way of your career. Leave a comment below if you found this post helpful. And don’t forget to subscribe to the blog for exclusive content.

*This is a collaborative post.

About me

Ezinne Allen-Obayagbona, fondly called 'Zinny' is the Founder and Lead Copywriter for Zinny Factor. She is an ardent reader and writer with several years of experience. Her articles help readers live a well-rounded life as a worker (whether as an employee, entrepreneur or both, aka side hustler)!
She is also a Wedding Photographer/ Videographer on Allen Oba Studios (www.obaallen.com) and is the Lead Copywriter for the photography blog as well as contributes articles to a number of other publishing platforms.